Anti-competitive price discrimination, interlocking directorates, and tying contracts were banned by the:
A. Federal Trade Commission Act
B. Clayton Act
C. Sherman Act
D. Celler-Kefauver Act
B. Clayton Act
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Use the following diagram to answer the next question.
Which of the following best describes the short-run effect of the change shown in the diagram?
A. The unemployment rate rises, but the rate of inflation falls. B. The unemployment rate falls, but the rate of inflation rises. C. Both the unemployment rate and the rate of inflation fall. D. Both the unemployment rate and the rate of inflation rise.
Molly Sharp is producing a documentary about the plight of the six-toed ferrets of Sri Lanka. Molly has spent $125,000 of her own money on this project and the documentary is now complete
Molly just found out that no studio is willing to release her documentary and she must now shop it to cable television networks, where she knows she will not be able to recoup her investment. Which of the following statements regarding Molly Sharp's documentary is true? A) The $125,000 investment is an economic cost, and she will still make an accounting profit even if the television network willing to air her documentary pays her less than $125,000. B) She should not try to have her documentary aired on television because she cannot recoup her $125,000 investment. C) Since the $125,000 is a sunk cost, she should still try to have her documentary aired on television even though she will not see a profit. D) The $125,000 is a variable cost, so will not be incurred if she chooses not to have her documentary aired.
Which of the following is an important lesson that can be drawn from the experience of the Great Depression?
a. Frequent shifts in monetary policy can help smooth out unstable economic conditions during a recession. b. Trade restrictions can "save jobs" and expand total employment during an economic downturn. c. The good intentions of political decision-makers are no substitute for sound policy. d. The federal government should always balance its budget during a recession.
In less developed economies more economic activity is "do-it-yourself"
Indicate whether the statement is true or false